Don't fall victim to a bad credit mortgage with higher interest rates because of your credit history. Sometimes a mortgage broker will impose higher costs on the same loans for different borrowers. The higher costs may be in the form of higher mortgage interest rates, fees, or points.

But you can even the playing field, and save yourself thousands of dollars. Just ask the lender if your mortgage rate is the lowest offered that day. Ask to see the list of mortgage interest rates that the lender or mortgage brokers were issued for the day. If your lender or mortgage broker does not share the list, or you see you are not being offered the lowest rates, try to negotiate or go somewhere else for your loan. If you choose to accept higher costs, ask the lender or mortgage broker why you did not receive better terms for your mortgage loan.

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